Recently, a subscriber emailed a question about September corn, wanting to know why it seemed to be trading more like December corn, a new-crop contract, especially given the late planting dates that we saw for corn this year. Since I had just been asking myself the same question a few days earlier, this seemed like a good topic to explore.
Here are the important prices as of the close July 15:
September corn = $5.36 1/4.
December corn = $5.03 1/2.
July corn = $7.01 1/2 (expired July 12).
DTN's National Corn Index = $6.73 (July 12).
The September corn ...